Damien Hirst H10 • The Empresses, by LJCal on Jul 14, 2024 20:24:35 GMT 1,

Jul 14, 2024 8:16:56 GMT 1 J0NNY said:

Jul 14, 2024 6:45:56 GMT 1 LJCal said:

VAT is payable on original purchase price so it's 20% which is $2,500 of VAT. Probably cost me about £6,000 going down this road and i'll have to wait up to 3 months, these are for a client who doesn't want to wait. For anyone outside the UK with low sales tax and in no rush Opensea is the way to go. 

Thanks for clarifying, I was wondering what they would put as the value when sending as I am looking at buying one soon, luckily I only have to pay 10%. I wonder if you could challenge the value as you can almost prove what you paid for it. 

Yes that’s an interesting question, I know for U.K. orders they apply VAT automatically when you convert, maybe for international orders you can provide proof of purchase at a lower rate to pay lower taxes. Worth looking into as it’s likely to cut your liability by 70%

Jul 14, 2024 8:16:56 GMT 1 J0NNY said:

Jul 14, 2024 6:45:56 GMT 1 LJCal said:

VAT is payable on original purchase price so it's 20% which is $2,500 of VAT. Probably cost me about £6,000 going down this road and i'll have to wait up to 3 months, these are for a client who doesn't want to wait. For anyone outside the UK with low sales tax and in no rush Opensea is the way to go. 

Thanks for clarifying, I was wondering what they would put as the value when sending as I am looking at buying one soon, luckily I only have to pay 10%. I wonder if you could challenge the value as you can almost prove what you paid for it. 

Yes that’s an interesting question, I know for U.K. orders they apply VAT automatically when you convert, maybe for international orders you can provide proof of purchase at a lower rate to pay lower taxes. Worth looking into as it’s likely to cut your liability by 70%